|  MEMORANDUM
OF ASSOCIATION
The name of the Association is “PAK
INDIA BUSINESS COUNCIL”
The Registered office of PAK INDIA BUSINESS COUNCL (hereinafter
referred to as “PIBC”) will be situated in Islamabad
in the federal capital of Pakistan.
The objects for which PIBC is established are:-
To encourage and stimulate Indian trader and industries
to promote trade and industrial activities between both
the countries and in this behalf to assist members.
To promote the development of commerce between the Pakistan
and India.
To represent, express and give effect to, relevant opinions
of members regarding trade, commerce, finance, industry,
agriculture and related questions
To collect, evaluate and disseminate among its members statistical
and other information concerning commerce or other matters
of interest to them.
To provide a channel of communication within the business
community, with the Government of Pakistan, and between
PIBC and Government representatives of the India.
To associate and cooperate with other Indian Councils of
Commerce in the Asian- Pacific area and with other organizations
sharing mutual interests.
To promote and support measures calculated to benefit and
protect the interests of members.
To purchase, construct, take on lease or in exchange, hire
or in any other way acquire any movable or immovable property
or properties and any rights, privileges which PIBC may
think necessary or convenient for the purposes of carrying
out any of the objects and to sell, demise, mortgage, give
in exchange or dispose of the same or any part thereof.
To borrow or raise any moneys required for the purposes
of PIBC upon such terms and in such manner and on such securities
as may be determined.
To accept any bequest, gift, donation, grant or subscription.
To invest and otherwise deal with the moneys of PIBC in
such manner as may, from time to time, be determined.
To establish branch offices of PIBC.
To set up and sponsor exhibitions and showrooms in Pakistan
and in the India to display and exhibit industrial, agricultural
and other products for the benefit of members and other
persons interested in or connected with the manufacture
or sale of such products and also to assist such exhibitions
and shows.
To endeavor to settle commercial disputes amongst members
by conciliation and arbitration.
To promote responsible corporate citizenship of members.
To do all such other things as are incidental or conducive
to the attainment of all or any of the above objects.
To establish Pak India Investment Company for the purpose
to exchange information about investment opportunities in
both the countries and assist in making and procuring investment.
The income and property of PIBC whatsoever derived, shall
be applied solely towards the promotion of the objects of
PIBC as set forth in this Memorandum of Association and
no portion thereof shall be paid or transferred, directly
or indirectly, by way of dividend, bonus, or otherwise howsoever
by way of profit, to the persons who at any time are or
have been members of PIBC or to any of them or to any persons
claiming through any of them. Provided that nothing herein
contained shall prevent the payment, in good faith, of remuneration
to any officer or servant of PIBC, or other person, in return
for any service actually rendered to PIBC nor prevent the
payment of interest on money borrowed from any member of
PIBC.
The forth and tenth paragraphs of this Memorandum are a
condition on which a license is granted by the government
of Pakistan to PIBC in pursuance of the Trade Organizations
Ordinance, 1961.
The liability of members is limited.
Every member of PIBC undertakes to contribute to the assets
of PIBC in the event of its being wound up during the time
he is a member, or within Three years afterwards, for payment
of the debts and liabilities of PIBC contracted before the
time at which he cases to be a member and of the costs,
Charges, and expenses of winding up the same, and for the
adjustment of the rights of the contributors amongst themselves
such amount as may be required, not exceeding Rs.500/-.
If upon the winding up or dissolution of he PIBC there
remains, after the satisfaction of all its debts and liabilities,
any property whatsoever, the same shall not be paid to or
distributed among the members of PIBC but shall be given
or transferred to some other institution or instructions
having objects similar to the objects of PIBC to be determined
by the members of PIBC at or before the time of dissolution
and in default thereof by such judge of the Court as may
have or acquire jurisdiction in the matter.
All members of PIBC shall have established a place of business
or liaison office within the territories of Pakistan and
India.
Amendments to the Memorandum of Association shall be subject
to the approval of the Government o Pakistan and shall also
be made when required by the Government of Pakistan in public
interest.
We,
the several persons whose names and addresses are
subscribed hereto, are desirous of being formed into
an Association in pursuance of this Memorandum of
Association.
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.::MEMORANDUM
OF ASSOCIATION OF PAK INDIA BUSINESS COUNCIL::.
